FirstEnergy pushes for rate hike to help Ohio nuclear plants

TOLEDO, Ohio (AP) — The head of northern Ohio’s largest electric utility is telling state lawmakers that a proposal to keep alive its two nuclear plants along Lake Erie is more than just a bailout.

FirstEnergy Corp. President Chuck Jones says the plants need to keep operating to ensure Ohio has a diverse lineup of homegrown energy sources and that electricity prices aren’t vulnerable to wild swings.

The Blade in Toledo ( ) reports Jones spoke to lawmakers Tuesday about the plan. If approved, it would increase rates by as much as $5 a month for FirstEnergy customers in Ohio.

The increase could generate about $300 million each year for the Davis-Besse and Perry nuclear plants that are owned by the Akron-based utility.

Both plants are facing stiff competition from cheaper natural gas plants.


Information from: The Blade,